Selling Silver For Gold On Credit
Darussalam · Volume 5
44. The Book Of Financial TransactionsSunan an-Nasai Darussalam English translation
الحديث: 4576 ¦ الجزء: 7 ¦ الصفحة: 280
Source no. 4576 · Volume 10 · Page 148
Sahih
صحيح، انظر ما قبله (٤٥٧٥)
Source no. 4267 · Volume 3 · Page 950
Sahih
(صحيح) - ق، انظر ما قبله.
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4580. Abû Al-Minhâl said: "I asked Al-Barâ' bin 'Âzib and Zaid bin Arqam and they said: 'We were merchants at the time of the Messenger of Allâh ﷺ, and we asked the Prophet of Allâh ﷺ about money exchange. He said: "If it is done hand to hand there is nothing wrong with it, but if it is done on credit then it is not right." (Sahih)
4576 - أَخْبَرَنِي إِبْرَاهِيمُ بْنُ الْحَسَنِ، قَالَ: حَدَّثَنَا حَجَّاجٌ قَالَ: قَالَ ابْنُ جُرَيْجٍ، أَخْبَرَنِي عَمْرُو بْنُ دِينَارٍ، وَعَامِرُ بْنُ مُصْعَبٍ أَنَّهُمَا: سَمِعَا أَبَا الْمِنْهَالِ يَقُولُ: سَأَلْتُ الْبَرَاءَ بْنَ عَازِبٍ، وَزَيْدَ بْنَ أَرْقَمَ فَقَالَا: كُنَّا تَاجِرَيْنِ عَلَى عَهْدِ رَسُولِ اللَّهِ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ، فَسَأَلْنَا نَبِيَّ اللَّهِ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ عَنِ الصَّرْفِ فَقَالَ: «إِنْ كَانَ يَدًا بِيَدٍ فَلَا بَأْسَ، وَإِنْ كَانَ نَسِيئَةً فَلَا يَصْلُحُ»
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The exchange of gold for silver or vice versa signifies the sale of gold for silver and silver for gold; in other words, taking of dirhams in exchange for dinars and dinars in exchange for dirhams. Since the mutual proportionate ratio of the rate of gold and silver goes on rising and falling, and the rate goes on fluctuating, their exchange is permitted if the payment is made on the spot. But if the payment is to be made in future, it is not permitted. This is because till the time of payment, the rates are likely to fluctuate. It would then give rise to a possible dispute.